NEW YORK: oil prices retreated further on Thursday, adding to sharp losses in the previous session as the market shifted focus toward rising U.S. crude stocks and away from worries about the conflict between the United States and Iran.
Broadly, prices were moving back toward where they stood before a Jan. 3 U.S. drone strike killed a top Iranian general, prompting an Iranian rocket attack on Iraqi air bases hosting U.S. forces. These events pushed crude to its highest in four months.
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